The space was set to be the flagship for Guardian Membership (The Guardian)

The media group announced its plans to regenerate King’s Cross’ Midland Goods Shed into a multipurpose venue in September 2014. However the company stated yesterday (5 January) that it had taken the decision to pause the building works in December 2015, as part of a wider "strategic review of GMG’s business".

KCCLP is remaining positive regarding the announcement. A spokesperson from the company said: "We are fully aware of Guardian Media Group's review of their business plan for the Midland Goods Shed and their 30,000 square foot events space.

"We are working closely with them as the new management goes through a wider operations review and we are providing them with as much help as possible so that they can complete this soon."

They added: "With Waitrose now open next door, over 20 businesses and restaurants located here alongside Central St Martins, we believe that King’s Cross would benefit from an event space of this kind, and we remain excited about the prospect of The Guardian remaining involved."

A space for ‘debate, culture and curiosity’

GMC had plans to turn the Midland Goods Shed in north London into a public area for 'events, community gatherings and free speech'.

This would comprise an open amphitheatre, a restaurant with a rotating programme of chefs in residence, an armchair cinema, a 3D printing and fabrication lab, a rooftop garden, galleries and a dozen spaces for events.

The company called on its audience to help shape the project when its plans were initially announced in 2014.

The Midland Goods Shed initiative has now been put on hold as part of a business review, following a difficult trading period.

A spokesperson for GMG said: "Soon after being appointed, [chief executive] David Pemsel and [editor-in-chief] Katharine Viner spoke to staff about the intensely challenging advertising trends affecting the whole media industry, and launched a strategic review of GMG's business as a consequence.

"In the context of that wider review, we took the decision back in December last year to pause the building works while we look at the current plans for the Midland Goods Shed and assess the business case?. That process is ongoing and we continue to review all our options."